Toyota's Next-Gen Electric SUV Comes With A Surprisingly Low Price Tag

The Toyota bZ is currently the only battery electric vehicle available in the Japanese automaker's U.S. lineup; and it isn't even an all-new model, having been renamed from the bZ4x. This vehicle was first launched in 2022 for the 2023 model year, and had a starting price of $42,000 when we drove it for the first time on SlashGear. However, as the company relaunched it with the new name and an updated exterior, it also gave it a great price: the bZ now has a $34,900 base price for the XLE FWD trim, a nearly 17% discount from the original. 

This is great news and quite unusual, especially since cars typically become more expensive with every new generation or model year. This makes it one of the more affordable battery electric SUVs on the market. For example, the Tesla Model Y costs $44,990 for the Long Range Rear-Wheel Drive option, and the Honda Prologue is even more expensive at $47,400. The Nissan Ariya is still pricier at $39,770, and even the older Ford Mustang Mach-E still goes for $37,995. One of the few EV SUVs cheaper than the bZ is Chevrolet's Equinox EV, which has a starting price of $33,600; and the Hyundai Kona EV, which starts at $32,975.

However, you should note that the Toyota bZ isn't included in the list of EVs that are eligible for a tax credit, so some of the vehicles listed above might eventually be much cheaper. Still, you have to check if you qualify for the credit, as there are other requirements that you need to pass before you receive up to $7,500 of the tax rebate.

The Toyota bZ4x (from which the current Toyota bZ is based) is already a great vehicle, but the new bZ did not just copy the homework of its older brethren and changed the name on the assignment. There are other improvements, too, allowing it to compare well against the Tesla Model Y. It can now go as far as 314 miles on a single charge on the FWD version, while the AWD version gets 288 miles. Although the latter has a shorter range, it more than makes up for this by delivering 388 horsepower, allowing it to go from 0-60 in just 4.9 seconds. You'll also get great charging, going from 10% to 80% in half an hour with compatible chargers.

However, the biggest change you'll see is the updated exterior of the vehicle. The awkward black fender flares are gone and replaced with the traditional painted panels. It no longer stands out from the crowd in a not-so-good kind of way and somewhat resembles the upcoming 2026 Toyota RAV4. So, even if the price of the new Toyota bZ has gone down, its customers are not getting short-changed on features and performance.

This goes to show that EV technology is now becoming cheaper and more accessible to buyers, without compromising on quality. Hopefully, this starts a trend where we get affordable EVs that can compete against traditional ICE vehicles in price, performance, and comfort in the U.S. If this comes true, then it will solve the biggest problem that customers face when purchasing an electric vehicle.